7.
| (1) The Corporation shall be able and capable in law to acquire by purchase, gift, devise, bequest, exchange or in any other manner and to hold any movable or immovable property and to dispose of any such property acquired or held by the Corporation. |
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| (2) The Corporation shall have the power to borrow or raise money necessary for the furtherance of its objects and to create, execute, grant or issue any mortgages, bonds or obligations to receive such money. |
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| (3) All property, movable and immovable, acquired or held by the Corporation and all moneys paid to or received by the Corporation under this Act or the by-laws, shall be held, used and applied by the Corporation in accordance with the by-laws for the furtherance of its objects and subject to such by-laws, the Corporation shall have the power from time to time to buy, sell, grant, convey, devise, assign, exchange or otherwise dispose of or mortgage any such property and invest its funds in such manner as may be necessary or expedient for the furtherance of its objects. |
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Sri Lanka Consolidated Acts